Credit Card Debt in Bankruptcy

Does Chapter 7 Bankruptcy Remove Credit Card Debt?

The most common reason individuals file Chapter 7 bankruptcy is to get rid of unsecured debt, such as credit card debt and medical bills. For the most part, credit card debt is eliminated in bankruptcy. However, there are certain circumstances in which credit card debt is not dischargeable.  

The Chapter 13 Bankruptcy Repayment Plan

You must be able to devise a repayment plan that you can afford for the repayment period (three to five years), and the court must approve the plan.

Pre-Bankruptcy Credit Card Charges: Can You Discharge Them?

Many people file for bankruptcy to get rid of credit card debt. Along with other unsecured debts (such as medical bills and lawsuit judgments), credit card debt is typically discharged in bankruptcy. Once your case is over, credit card debt will be wiped out.  

Keeping a Credit Card in Chapter 7 Bankruptcy

If you file for Chapter 7 bankruptcy, can you keep a credit card so you can use it afterward? While it generally is not a good idea to keep a credit card in Chapter 7 bankruptcy, in most cases you can do it.

Will Bankruptcy Stop Credit Card Collections?

Filing for bankruptcy will immediately stop all credit card collections and lawsuits, and will prevent a credit card company from initiating any new lawsuits. This hiatus on collection, called the automatic stay, lasts while your bankruptcy is pending.

How long before filing bankruptcy are you supposed to stop using the credit cards?

I am considering filing for bankruptcy because I have recently lost my job, and have no means to repay my outstanding debts. I can hardly cover my daily expenses without my credit card. I know...

Filing for Bankruptcy in Indiana

Bankruptcy is governed by federal law, so the process to file for Chapter 7 bankruptcy or to file for Chapter 13 bankruptcy is nearly identical in every state, including Indiana. However, Indiana law plays an important role, especially in setting property exemptions, which determine what property yo

I forgot to list a credit card debt in my bankruptcy. Do I still owe the bill?

Question I forgot to list a credit card debt in my schedules before I received my discharge. Do I still owe this bill? (To learn more about bankruptcy and credit card debt, see our Credit Card Debt in Bankruptcy topic area.)

Can my credit card company fight my bankruptcy?

It is rare for a credit card company to challenge the validity of your entire bankruptcy (it would do this by seeking to dismiss your case). It is more likely that a credit card company would cause you trouble by objecting to the discharge of its particular debt.

If I run up my credit cards before bankruptcy, can I get rid of the debt and keep what I bought?

Filing bankruptcy can help you get rid of credit card debt; however, if you use your credit cards excessively knowing you intend to file bankruptcy, the credit card company can accuse you of fraud and take steps to make sure you still have to repay the debt.

Can I use my credit card before I file for bankruptcy?

While you can use your credit cards before filing for bankruptcy, it's usually best to stop using them altogether. Depending on how you use them and what you use them for, you could run the risk of having to repay the debt after your bankruptcy is over. If you use your credit cards for necessities prior to bankruptcy, you'll probably be in the clear.

Can I use my credit card to buy groceries if I plan to file for bankruptcy?

If you're thinking about filing for bankruptcy, chances are you don't have a lot of disposable income. You may be using your credit cards just to survive -- charging your groceries, your utilities and gas for your car. Some types of credit card use right before you file for bankruptcy can lead to trouble.

Can I buy a new TV with my credit card before filing for bankruptcy?

Making a large, luxury purchase, such as buying a television, on credit in anticipation of filing bankruptcy is considered an act of fraud under federal law, and doing so can get you into trouble. The bankruptcy system is designed to help those who are struggling with debt to free themselves and start over again fresh.

I paid off some student loans with a credit card. Can I discharge them in bankruptcy?

Typically, it is difficult to wipe out (discharge) student loans in bankruptcy. Credit card debt, on the other hand, is often discharged almost automatically. Does that mean you can pay your student loans with your credit card and then discharge that debt in bankruptcy? Read on to learn why this tactic

The New Bankruptcy: Will It Work for You?

Is bankruptcy the right solution for your overwhelming debts? Pick the best strategies for your situation with the information and practical suggestions in this book by best-selling author Stephen Elias.

How to File for Chapter 7 Bankruptcy

The reliable, up-to-date information in this best-selling book will help you successfully complete your bankruptcy claim without breaking the bank.

Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time

This comprehensive guide explains the Chapter 13 process, from start to finish.